Demand high, bond auction sales exceed plan

Debt

Hungary’s Government Debt Management Agency (ÁKK) sold a combined HUF 60.5 bln of bonds at auction today, raising its original offer by HUF 15.5 bln, Hungarian news agency MTI reported.

Demand was strong, especially on the two shorter terms. Yields rose compared to the previous auction, but were below Wednesdayʼs secondary market benchmarks. 

The ÁKK sold HUF 30 bln of three-year bonds, HUF 10 bln more than planned. Primary dealers bid for HUF 129.5 bln of the papers. The average yield was 1.22%, 7 bps under the secondary market benchmark and 2 bps over the yield at the previous auction of the bonds two weeks earlier.

The ÁKK sold HUF 20.5 bln of five-year bonds, raising the original offer by HUF 5.5 bln. Bids came to HUF 80.1 bln. The average yield was 2.18%, 6 bps under the benchmark and 20 bps over the yield two weeks earlier.

The ÁKK sold HUF 10 bln of ten-year bonds, in line with the original offer. Bids reached HUF 37.9 bln. The average yield was 3.51%, 2 bps under the secondary market benchmark and 26 bps over the yield at the previous auction of the bonds on September 29.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

Martina Cifer joins Avison Young Hungary Appointments

Martina Cifer joins Avison Young Hungary

BFK developing regional cycling strategy City

BFK developing regional cycling strategy

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.